BY LICIA LESLIE
December 08, 2023
Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.
Have a stock YOU want us to review? Email my team here. – Mark
Hey Traders,
The S&P500 ETF (Ticker: SPY) has reached the highs created last July and February 2022:
It has tried seven times now to bust out above this resistance.
Each time it trades away and looks to rollover it comes roaring back.
Now it has created a consolidation or box range, which is a pause before it continues in the same direction.
Once it breaks through here, the next resistance level comes in at $462 then $474.
Support comes in at $453 and $450.
Trade Accordingly,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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